ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING

Drudge Report ^ | 5 October 2009 | Drudge

[taildragger]

Their desire to destroy us without a shot is at hand and they are ready to sieze the moment.

WE are broke, one reason for the Tea PArties IMHO is that Washington won't tell us the truth on that alone, when in fact we coudl deal with the truth.

All we need is for China to say not on our debt, and it all comes tumbling down.

[silverleaf]

No food exports?
Dude.

Who do you think has been buying up the world’s farmland and locking up operating the ports used to ship it out?

Did you think that was a silly rumor that Hillary Clinton went to China after inauguration and talked about giving the Chinese “eminent domain” in the USA?

[taildragger]

What food.......... the EPA is cutting water to California and many farms will go belly up and it is becoming a dustbowl. Can you say the mother of all Perfect Storms?

How does Soros benefit from this all is my question.....

[silverleaf]

If Harry Dent is right this time, by mid 2010 the DOW may be headed to 3800 or less.

[enduserindy]

“Then by all means, lets become an oil exporting nation.”

I nominate you for 2012.That would solve a lot of our economic woes jut on the policy announcement.

[just me]

The Democrats morally bankrupted the US, and BO has financially bankrupted the dollar. It won’t belong before we become slaves to the state...

[silverleaf]

Soros will eat. Soros will decide who else gets to eat.

[Spottys Spurs]

Somewhere/somehow, Goldman Sachs will make a bundle out this chaos!

[Navy Patriot]

One of several steps necessary to complete the utter destruction of the United States of America.

The final step is the Federal default on Treasury bonds.

The American people will understand what it's like to live in Zimbabwe, conned into servitude.

[ex-snook]

Isn’t this the time to say ‘we need to cut taxes and import more’?

[ex-snook]

"The Democrats morally bankrupted the US, and BO has financially bankrupted the dollar. It won’t belong before we become slaves to the state... "

Sorry, this was a bipartisan FU.

[NeoCaveman]

If true, this is the black swan event.

[Starboard]

The market is levitating. The national debt is astronomical and growing exponentially, our currency is steadily losing value, there are no incentives to run a business in this country, personal taxes are going to rise, inflation is getting ready to take off, etc. Eventually there’s going to be a reality check.

[Navy Patriot]

No food exports! Period!!

They're ahead of you, they already own lots of farmland and will be able to buy all the rest with freightrain loads of inflated US dollars.

You will be offered a peon tenant farmer job, that or starve (or steal from your fellow Americans).

[just me]

Yep sorry... Republicans these days have no spine.....

[Navy Patriot]

Eventually there’s going to be a reality check.

It will be too late.

[Navy Patriot]

Sorry, this was a bipartisan FU.

Correct.

[dalebert]

lol sory that might make us competitive with other nations....can’t do that

[Milton Miteybad]

Get rid of some of the anti-diesel anti-coal rules. Then we start taxing the export of fuels to pay down the debt.


Just from the standpoint of logic, it seems self-defeating to place a tariff on your own exports, thereby rendering them less competitive in price than the same commodities sold by other nations without such an export tariff.

Also, I think there may be some constitutional issues with levying tariffs on U. S. exports. This issue appears to be covered by Article I, Section 9, U. S. Constitution, which reads (in relevant part):

No tax or duty shall be laid on articles exported from any state.



While I have no particular problem with producing sufficient energy for export, to the extent we may actually be able to do so, this export tariff idea needs a lot of work, frankly.

[marron]

Not surprising. You can’t dump two trillion dollars down the toilet without inflating the dollar.

The dollar has been a solid measure since Reagan. I remember when, if you wanted solid, you went with Swiss Francs or even German deutchmarks. A solid dollar isn’t an act of nature, it is an act of will. We just devalued the dollar without admitting it, but no one is fooled.